Earnings Surprises - 07-07-98

BarbaraC. Costanza

Johnson Controls Inc. (JCI)
JCI, +0.18%
could see shares drop Wednesday morning following its earnings warning. The company said third-quarter earnings will run 10 cents a share lower than anticipated because of the General Motors (GM)
GM, +3.40%
strike. Wall Street had been expecting the company to earn 99 cents a share.Johnson makes seating systems and other interior systems for GM vehicles.The strike forced Johnson to temporarily lay off 1,600 employees. The layoffs covered about 8 percent of its U.S. manufacturing workforce. Shares closed down 13/16 to 57 3/8.

Parker Hannifin (PH)
PH, +0.44%
shares could head lower on news its fourth quarter earnings will run about 81 cents a share, below the consensus estimate of 89 cents a share. The company cited the Asian financial crisis and a depressed semiconductor market. The company also said it will incur an estimated 6-cent-a-share charge for its acquisition of UCC Securities Ltd.and a one-time charge of 3 cents a share from the early retirement of debt. The company plans to refinance the debt at current rates. Shares closed down 2 to 35 7/8.

Semiconductor part maker Semtech (SMTC)
MSI, -0.61%
warned it sees second-quarter earnings between 14 cents and 17 cents a share. Wall Street analysts were expecting a profit of 30 cents. Ahead of the news, Semtech shares closed up 1/16 to 14 7/16. See full story.

System software company Symantec Corp. (SYMC)
SYMC, +1.06%
rose 14 percent Tuesday after the the company said it expects a profit of 40 cents a share in the first quarter, excluding a one-time charge. The company expects revenue of $153 million, an increase over the year ago total of $135 million. Wall Street's current consensus estimate is 41 cents a share. Shares shot up 3 3/16 to 25 1/2.

Smallworldwide Plc (SWLDY)
swldy
shares fell 50 percent after the company said fourth-quarter earnings will run 1 cent to 5 cents a share, way off the consensus estimate of 33 cents a share. The company cited the a delay in shipment of its PowerOn product and weakness in Asia. Shares fell 14 5/8 to 14 3/4. See related story.

Computer Horizons (CHRZ)
chrz
said it will acquire Informatics Search Group of Toronto for $21.6 million in cash and stock. The deal will add about 4 cents a share to earnings for calendar year 1999. The stock closed down 1 5/8 to 35 3/8.

Neopath Inc. (NPTH)
NPTH, +900.00%
said expects a second-quarter net loss that will "modestly exceed" the 39-cent loss in the first quarter and the consensus estimate of a 40-cent loss. The company cited pressure on gross margins . Shares rose 3/16 to close at 8 1/8.

SeaChange International Inc. (SEAC)
SEAC, +0.38%
warned it sees a second-quarter loss of 9 cents to 13 cents a share, missing the consensus estimate of a profit of 1 cent a share. The company makes software-based products to manage, store and distribute digital video for television operators and telecommunication companies. The company cited a slowdown and continued pricing pressures in its ad insertion market and a delay in orders for its movie product line. Shares closed down 1 1/2 to 9 1/4.

Shares of United Airlines (UAL)
UAL, +3.34%
closed 5 percent higher after the company said it expects to exceed analysts' profit expectations in its second quarter as a result of higher June traffic. Shares gained 4 1/4 to 88 3/4. See full story.

Shares of Radiant Systems (RADS)
RADS
closed down 50 percentfollowing the company's warning that second-quarter results will fall below analysts' expectations. Radiant, a provider of retail operations systems, expects to report a loss of between 8 cents and 10 cents a share for the second quarter, significantly below a profit of 8 cents a share expected by analysts surveyed by Zacks Investment Research. Shares fell 7 to 7. See related story.

Chip equipment maker Aetrium Inc. (ATRM)
ATRM, -12.63%
shares closed 6.1 percent lower after it said it won't meet analysts' expectations for a second-quarter profit. The company expects to post a loss of 6 to 8 cents a share on revenue of $16 million. The consensus estimate of analysts surveyed by Zacks Investment Research was a profit of 6 cents. Aetrium cited customer General Scanning Inc.'s decision to exit the business for the shortfall. Shares fell 9/16 to 8 11/16. See Tech Report.

Vantive Corp.'s stock closed down 15 percent after the software company said it expects second-quarter earnings to run 2 to 4 cents a share, excluding acquisition charges. The consensus on Wall Street is a profit of 17 cents a share. Shares fell 2 1/4 to 13 1/4. See related story and press release.

Shares of Sports Authority slid 13 percent on news second-quarter earnings will run 12 to 14 cents a share, missing the 25-cent consensus estimate. Last year the company reported a second-quarter profit of 30 cents a share. Second-quarter sales will run about $430 million. Same-store sales are expected to decrease by 2 to 3 percent over the year-ago period. The company cited continued soft sales and the economic situation in Japan. Shares fell 2 1/16 to to close at 14 1/2. See related story and press release.

Automation software products maker Adept Technology Inc. said it expects to report fourth-quarter earnings of 3 to 5 cents a share, excluding restructuring and one-time charges, far below First Call's polled estimate of 11 cents a share. The company blamed continued slow demand in key markets. Adept Tech shares slipped 3/4 to close at 7. See related story and press release.

Retailer Venator Group(Z)
Z, -0.16%
said it expects a loss of 5 cents to 10 cents a share in its second quarter and year-end profits of $1.10 to $1.20 a share. Analysts expected a profit 21 cents a share and $1.72 a share. The company blamed soft sales in its athletic shoe market and a slowdown in Asian tourism. Shares closed 2 3/4 lower to 18 1/4. See related story.

Lone Star Technologies Inc. (LSS) said second-quarter earnings will fall short of the current Wall Street forecast due to continued depressed oil prices. Wall Street's current estimate is a profit of 33 cents a share. Shares closed flat at 14 3/4. See press release.

DePuy Inc. (DPU)
DPU, +8.93%
said cost related to its purchase of spinal implant developer AcroMed Corp. will cause second-quarter net income and earnings to run short of estimates. Wall Street's current analyst consensus estimate is 35 cents a share. Shares fell 5/8 to 28 1/2 by the market close.

Motorola Inc. (MOT)
MSI, -0.61%
posted a better-than-expected second-quarter profit of 1 cent a share, excluding a one-time charge. The number surpassed the consensus estimate of a loss of 4 cents a share. Last year the chip maker posted a profit of 44 cents a share. Shares closed up 1 3/8 to 55 ahead of the news. See related story. and .

Aluminum Company of American (AA)
AA, +2.36%
beat the Wall Street consensus estimate of $1.15 a share when it posted a second-quarter profit of $1.24 a share. The profit includes a 13-cent loss related to certain aluminum commodity contracts. The stock climbed 3 3/4 to close at 68 3/4. See related story.

GreenPoint Financial (GPT)
GPT, +1.00%
shares closed up after posting second-quarter earnings of 54 cents a share, beating the Zacks consensus estimate by a penny. The company said new mortgages for the quarter totaled $700 million, resulting in net loan growth of $101 million. Shares inched up 1 1/8 to 40 1/4.

Shares of Electro Scientific Industries Inc. fell 7.4 percent after the company missed First Call's consensus estimate for the second quarter by 11 cents. The company posted a profit of 54 cents a share. Shares fell 2 5/16 to 28 7/8 by the close.

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